WinZO & IEIC report predicts $60 billion surge in India’s Gaming Market by 2034

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India’s online gaming industry is set for rapid expansion, with the market projected to grow from $3.7 billion in 2024 to $9.1 billion by 2029, according to the India Gaming Market Report 2025 by the Interactive Entertainment and Innovation Council (IEIC) and WinZO Games. The report was unveiled at the Game Developers Conference (GDC) in San Francisco, marking a key moment for India’s gaming ecosystem.

Major Findings from the Report

• IPO Boom in the Gaming Industry: The report predicts that regulatory clarity could unlock $26 billion in investor value through gaming IPOs. Once the market reaches its estimated $9.1 billion size by 2029, this value is expected to rise to $63 billion.
• India’s Growing Gaming Population: India has 591 million gamers, making up 20% of the global gaming population. The country recorded 11.2 billion mobile game downloads and is home to 1,900 gaming companies, employing 130,000 professionals.
• Foreign Direct Investment (FDI) in Gaming: The sector has attracted $3 billion in FDI, with 85% of this investment directed toward the Pay-to-Play segment.
• Long-Term Growth Projections: By 2034, India’s gaming market is expected to touch $60 billion, creating 2 million jobs, boosting FDI, and expanding the gaming user base to 952 million players.

Industry Leaders Speak on India’s Growth Potential

Dr. Srikar Reddy, Consul General of India at San Francisco, commented, “India stands at the cusp of a remarkable transformation in the global gaming and technology ecosystem. The Hon’ble Prime Minister’s steadfast support for digital infrastructure and emerging technologies has positioned India as a global leader in the tech and gaming markets.”

WinZO Co-founder Paavan Nanda emphasized the potential for investment and innovation, stating, “The online gaming industry in India is on an unprecedented growth path, backed by a projected market size of $9.1 billion by 2029 and the potential to unlock up to $63 billion in investor value by 2029.”

India Pavilion at GDC and Global Exposure for Developers

The India Pavilion at GDC, hosted by WinZO, the Ministry of Information & Broadcasting, GDAI, and Nazara Technologies, showcased India’s gaming ecosystem. The pavilion featured indie developers alongside industry giants, allowing them to engage with the global gaming community.

The Bharat Tech Triumph Program, a flagship initiative by WinZO, provided game developers with global exposure, enabling winners to present their projects at GDC, Startup Mahakumbh (April 2025), and the WAVES Summit (May 2025).

Future of Indian Gaming Industry

The report highlights India’s dominance in casual and hyper-casual gaming, with a strong demand for regional language content. The expansion of Indian gaming intellectual property (IP) to international markets is expected to play a crucial role in the industry’s future.

With a robust regulatory framework, strong investor confidence, and growing global influence, India’s gaming sector is poised to reshape the global gaming landscape over the next decade.

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